Five Steps To Success: Restaurant Edition
The restaurant industry in the United States has been constantly growing over the past few decades, reaching an all-time high of approximately 800 billion U.S. dollars in 2017.
Here are a few tips to making your business as profitable as possible.
1.) Never be cheap when it comes to guest experience.
According to Forbes magazine, Disney and its theme parks have created a passionately loyal fan base, welcoming 157 million visitors in 2018 with an amazing 70% return rate of first-time guests. This stems from their impeccable customer experience. While your business might not be as expansive as Disney World, you can make just as much of an effort toward amazing service on a much smaller scale. Be thoroughly versed on your menu. Not only the wait staff but the owners and managers. No customer enjoys half the staff being unsure if something is gluten-free. Of course, mistakes will get made and exact items forgotten, but go out of your way to really learn the items inside and out. Also, keep your restaurant ambiance up to date. According to research from industry data and analysis firm Technomic Inc., 65% of consumers in 2014 expected restaurants in the quick-service segment to offer free access to Wi-Fi in their restaurants.
2.) Be cheap.
Of course, you want to take care of your customers, but you also can’t be overspending and putting yourself into debt needlessly. According to Lavu “Portion control is a simple trick to reduce costs at your restaurant or bar. It’s a technique used by all chain restaurants. Customers will soon learn what to expect, and it will keep your costs low and manageable. Today’s consumers are focused on eating healthier, so a smaller portion size could lead to new customers as well.” You can save a lot of money on smaller lunch portions, kids’ menu items, and other dessert quantities. If people are often taking half the meal home, it might have been too much to start with.
3.) Be ready to be constantly evolving.
You can’t get too comfortable in the restaurant business. People and tastes are always changing. New trends, new ideas, it is all constantly in motion. It can be a little daunting, but as long as you are flexible enough to try new things or new appearances, there should be no problem.
4.) Keep the basics the same.
Just because you are flexible doesn’t mean you have to constantly be reinventing the wheel. Change just for the sake of change is silly. According to Nation’s Restaurant News, during the pandemic, many menu development teams played around with LTOs and found that the public would be willing to spend a little bit more on a unique, more premium item. Buffalo Wild Wings, for example, began offering a ‘Truffalo’ sauce, made with white truffles. This is an example of using what you have to make something different, without completely redoing everything.
5.) Market, MARKET, MARKET YOURSELF.
This is key.
If no one knows your restaurant, no one is coming to your restaurant. Simple as that. You need to get your name out to possible clients online, through paper materials, advertising, word of mouth, and all of that good stuff. Your menus are an important part of this. Takeout menus are free advertising every time you hand one out. Other materials like signs and banners should match the menus in the theme. Let us help you find the right feel. You can view some of our samples here and we can make entirely custom designs.